Post
Topic
Board Bitcoin Discussion
Re: I just increased the value of your coins.
by
julz
on 18/09/2011, 06:24:40 UTC
While this is good news for the immediate future, its stuff like this that makes my skin boil. Bitcoins are kind of like Elves. They rarely come into being, there's a finite number of them and each loss is a tragedy!  Angry
But you can divide a bitcoin as much as you want, while you can't divide an elf  Cheesy

Pfft.. any dwarven axe knows better!

I think that bitcoin losses in the short term are no big deal for the system as a whole. 
It would be 'nice' to have an idea of how many coins are in circulation, but if it gets to the point where there appear to be few left and it's a concern that large stashes thought lost, could suddenly reappear and devalue the currency; then perhaps that would be the time to migrate to a new chain.
I'm guessing that would be centuries away, unless there is some IT apocalypse which destroys a large percentage of wallets.